The following data are taken from the records of Alee Company.

December 31,2020 December 31,2019

Cash $15,000 $ 8,000

Current assets other than cash 85,000 60,000

Long-term debt investments 10,000 53,000

Plant assets 335,000 215,000

$445,000 $336,000

Accumulated depreciation $20,000 $40,000

Current liabilities 40,000 22,000

Bonds payable 75,000 0

Common stock 254,000 254,000

Retained earnings 56,000 20,000

$445,000 $336,000

Additional information:

Held-to-maturity debt securities carried at a cost of $43,000 on December 31, 2019, were sold in 2020 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings. Plant assets that cost $50,000 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. Net income as reported on the income statement for the year was $57,000. Dividends paid amounted to $10,000. Depreciation charged for the year was $20,000.

Instructions Prepare a statement of cash flows for the year 2020 using the indirect method.

HOW DO I DETERMINE THE LOSS ON SALE OF PLANT ASSESTS? Please and thank you